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Spring 2016 Member Spotlight:

Ron Woerner


been at the credit union for many years and by some employees who are new to Centris. With both the familiar and new faces, our promise to be your trusted financial partner remains unchanged. The branch is expected to be open in June. For progress updates, including a more specific open date as well as pictures and videos of the branch, follow us on Facebook.

Together, we’re growing strong!

President’s Message Centris is headed to Broadway! Before you start wondering what song and dance we could write about loans and checking accounts, let me clarify: Centris is headed to East Broadway in Council Bluffs! As many of you may have heard we are opening our twelfth branch, and it is our second branch in Council Bluffs.

81st Annual Business Meeting

For several years, many of our members have told us that while they love our existing branch, it would be more convenient for them to bank with us downtown or in East Council Bluffs. Our decision to open a second Council Bluffs branch came in part from that member feedback. That’s one of the benefits of being a credit union member: your voice gets heard.

Joe Sacco - Chair Denise Hill - First Vice Chair Veronika Pinkerton - Second Vice Chair Linda Aust - Treasurer Paul Elofson - Secretary Matt Dannehl - Director Tom Beiriger - Director

As a member of Centris, you’re a member-owner of the credit union and our focus is on serving you. That’s why we listen to your needs and goals and answer with products, services, and sometimes, even new branch locations. The East Broadway branch will be a full service branch with a three-lane drive through and drive-up ATM lane. It will be staffed by some employees who have 2

InTouch / Spring 2016

At the 81st Annual Business Meeting, incumbents Paul Elofson and Matt Dannehl were elected to serve three-year terms. Your 2016 Board of Directors is:

Thank you to all who attended the Annual Business Meeting on March 22, 2016. We look forward to seeing you at next year’s meeting.

Save the Date

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Centris Movie Night Friday, Sept. 23, 2016 Werner Park


2016 Scholarship Winners Awarded Centris believes in investing in the lives and futures of the youth in our communities. This year, 12, $500 scholarships were awarded to high school seniors who are members of Centris as well as children of Centris employees. They were presented their awards at the 81st Annual Business Meeting on March 22. Nick Everett Riley Grosse-Rhode Jessica Harms Dillion Hawley Kylie Johnson Shelby Jones Sierra Krohn Amanda May Jacqueline Parriott Derek Rollins Jared Schuler Keela VanGrinsven Congratulations to all of the 2016 recipients! The 2017 Centris scholarship information will be available in late summer at www.centrisfcu.org.

Council Bluffs Grand Opening Join us for a parking lot party at our newest branch in Council Bluffs! On Thursday, July 21 from 6 - 8 p.m., come celebrate our grand opening at 518 East Broadway. This free, family-friendly event will include food, drinks, music, activities for the kids and tours of the new branch. We are proud to expand our footprint in the Council Bluffs community with the addition of this second branch. Our branch on 2825 Avenue G remains open to serve the needs of our members. www.centrisfcu.org

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Look to Centris for All Your Mortgage Needs If you’re in the market for a new home or ready to refinance, look no further than your nearest Centris branch. Our neighborhood mortgage experts are here to assist you through the home buying process. From pre-approval to closing, Centris has the products and services you need and benefits you won’t find anywhere else.

Congratulations! Sheryl Johnson Centris is proud to announce the winner of the sixth annual Free Mortgage Payments for a Year contest is Sheryl Johnson. Annually, Centris has had this contest, giving away up to $10,000 in free mortgage payments. Members were automatically entered into the contest when they completed a home loan or refinanced their mortgage through the credit union. As the winner, Johnson will have her mortgage paid by Centris throughout 2016. “The contest is a great way for us to give back to our members. We appreciate all the support we get from them and this is one way we can show it,” says Jeff Shapiro, Senior Vice President of Lending. He notes this is the sixth year Centris has held the contest and hopes to see it continue for many years. “We are excited to celebrate all year with Ms. Johnson.” Contact us today if you are in the market for a new home or if you’re ready to refinance your existing mortgage. 4

InTouch / Spring 2016

Here’s Your Chance to Win...

Now for a limited time, you have the opportunity to Win FREE Mortgage Payments For A Year!* (Up to $10,000. Odds of winning based on number of entries received.*) Apply in person, online or call and get pre-qualified before you shop for your new home. We’ll show you why Centris is your trusted neighborhood mortgage partner. Contact us for complete information.

*12 consecutive monthly mortgage payments (principal and interest only) of not more than $833.33 per month (“Monthly Maximum Prize”) totaling up to $10,000 in the aggregate. Exact prize amount will be determined by amount of eligible winner’s mortgage payment. Winner must pay any portion of winner’s monthly mortgage payments not attributable to principal or interest or otherwise in excess of Monthly Maximum Prize. Odds of winning depend on number of eligible entries received. Number of written prize notices to be distributed will depend on number of inquiries about the promotion. Beginning 1/1/16 through 12/16/16, when you open a mortgage loan with Centris Federal Credit Union (“Centris”) in Nebraska or Iowa, you will automatically be entered to be drawn as a winner in the “Centris Federal Credit Union Free Mortgage Giveaway.” Participants and winner(s) must be Nebraska or Iowa residents at least 18 years old as of 12/16/16, and have a valid driver’s license. To enter, you must be Centris members and have closed and have received funds for a mortgage loan or mortgage refinance from Centris on or after 1/1/16. One entry per person and/ or household. If a winner is disqualified or cannot accept the prize as stated, Centris reserves the right to determine an alternate winner in its sole discretion. Prize is not transferable, redeemable for cash or exchangeable for any other prize. Centris may require winner to complete, execute and return affidavits of eligibility, liability releases and publicity releases prior to taking possession of prize. Failure to sign these documents, or if winner cannot be notified, or if winner is found to be ineligible or not in compliance with these Official Rules, will result in disqualification and an alternate winner will be selected.

Federally Insured By NCUA.


Preventing Elderly Financial Abuse At Centris, it is one of our duties to help protect and safeguard our members’ assets. Elderly financial abuse has been a topic in past InTouch newsletters; however, this is a subject that needs to continually be discussed. We have worked with a number of cases this past year and no two are alike. Whether funds and/or property and assets are being exploited by a family member, caregiver or a close friend, this type of fraud continues to increase. It is estimated that one in five elderly persons are being financially exploited. Centris has taken steps in the prevention, detection and reporting of elderly abuse. In March 2016, the Consumer Financial Protection Bureau (CFPB) issued an advisory to financial institutions on preventing and responding to elder financial exploitation. One of the recommendations is to train management and staff on the warning signs including behavioral and transactional indicators of risk. During the past few years, Centris has conducted a number of employee training sessions on elderly financial abuse and it continues to be a topic of discussion.

The CFPB also encourages financial institutions to use technology to help detect potential patterns of suspicious activity. Centris has installed a high risk account monitoring system which is reviewed on an ongoing basis. This has been helpful in identifying suspicious transactions. Another recommendation by the CFPB is to understand the reporting of elderly abuse cases to relevant authorities. While Nebraska statute does not mandate that financial institutions report elderly abuse, it is important to keep the lines open to agencies like Adult Protective Services, the Department of Health and Human Services or law enforcement in the event there is reasonable suspicion of abuse. When elderly financial abuse is suspected, Centris has collaborated with these agencies to ensure that the appropriate action is taken. In addition, these agencies have been used to train Centris staff on the prevention and detection of elderly abuse. As a Centris member, if you have any suspicions that you or someone you know has been targeted or victimized for elder abuse, let someone know. There are many resources available to help. www.centrisfcu.org

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technology is innovative, interactive and beneficial on many levels; however, it also lends itself to major security risks. Centris member and Director of Cybersecurity Studies at Bellevue University, Ron Woerner, has made it his life’s work to educate and inform people about the risks of online activity and how to protect oneself.

Member Spotlight:

Ron Woerner

His love of technology started while in grade school in New Jersey in the 1980s working with a TRS-80 Model III microcomputer. The seed was planted, and Ron went on to join the Air Force, receive a scholarship to Michigan State, major in computer science and earn his Master’s from Syracuse University. By the early 1990s, he was stationed in Bellevue and starting his career.

Most peoples’ smartphones seem to be attached to their body, like a necessary limb. It’s almost unimaginable to be separated from one. The need to always be connected is innate, and the various ways to communicate via a smartphone are mind boggling. An average day’s use of a smartphone might look something like this:

Cybersecurity is the protection of information systems from theft or damage to the hardware, software and to the information on them. Simply stated, cybersecurity is protecting personal information stored electronically.

• Email friends your weekend plans • Text your partner to pick up milk • Check-in on Foursquare at lunch • Post your lunch order on Facebook • Instagram a photo of the restaurant • Retweet a cat meme on Twitter • Google recipe ideas for dinner • Snapchat your daughter’s video • Call mom to tell her you love her • Catch up on Game of Thrones

With every app opened and every search online, the threat of malware (i.e. computer viruses, spyware, Trojan horses and other malicious programs) taking over is present. While it is impossible to eliminate the risks, it is important to minimize them.

These are only some of the ways to communicate on a smartphone, and each and every one of these actions is a possible threat to one’s personal information. Think of all the other devices used on a daily basis that are also susceptible to such threats. Today’s 6

InTouch / Spring 2016

“We often sell our privacy without realizing it,” Woerner said.

Just like the Department of Homeland Security promotes the mantra of “If you see something, say something” in combating terrorism and terrorismrelated crime, Woerner does the same in helping people protect themselves from hackers. Hackers are very sophisticated and can infiltrate personal information by going through multiple computers to get to their target. They can create


emails that seem legitimate and appear to be coming from a reputable source, but, are in fact, a trap. Woerner encourages diligence and awareness as most people think they won’t ever get hacked. He also provides a few tips on how to stay protected: • Trust but verify If an email or phone call seems suspicious, take the time to call the vendor/business to confirm its authenticity or lack thereof. • Stay up to date on patches A patch is a piece of software designed to update a computer program or its supporting data, to fix or improve it. Make sure the programs on your computer such as Adobe Flash, Microsoft, etc. are current. • Be careful when using wi-fi It is very convenient to use public wi-fi; however, those airwaves are easy targets for hackers. Often times, these airwaves are insecure so it’s best to not use this wi-fi for anything sensitive. Woerner has a wealth of information and tips about safeguarding people from the dangers of an insecure cyber world due to his continuing education in the field. His numerous certifications and awards are benchmarks of his knowledge. “I am a hacker,” Woerner said, “but an ethical one.” He figures out how to use objects for other ways than they are intended all in the name of protecting privacy. He

is a member of InfraGard Nebraska which is a partnership between the FBI and the private sector dedicated to sharing information and intelligence to prevent hostile acts against the United States. Bellevue University is one of only 120 four-year universities in the country named as a National Center of Academic Excellence in Information Assurance/Cybersecurity from the National Security Agency (NSA). As a Centris member, he has a vested interest in making sure Centris is armed with the knowledge to keep members’ information safe and secure. Woerner wasn’t happy with his bank, and in 2013 he switched to Centris where he was able to refinance his house and open other accounts. “Centris feels like a family and not a large corporation”, he said. Ron Woerner’s mission is to educate people about online safety and to make sure businesses have the right protections in place with the appropriate level of controls without any surprises. For more cybersecurity information, Woerner recommends www.ftc.gov and www.staysafeonline.org as well as contacting him at (402) 557-7539. He is always willing to come to a business, school, church, etc. to speak about this very important topic.

Editor’s Note

Are you a Centris member making a unique contribution to the community or know someone who is? Tell us your story for a chance to be featured in the Member Spotlight of the Centris Newsletter. Simply contact us at marketing@centrisfcu. org or by phone at (402) 758-6523.

www.centrisfcu.org

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simplicity has a price. Look at the example of Warren Burger. The former Chief Justice of the United States wrote his own will, and it was just 176 words long. It proved flawed – after he died in 1995, his heirs wound up paying over $450,000 in estate taxes and other fees, costs that likely could have been avoided with a lengthier and less informal will containing appropriate language.1 Failing to update your will or trust after a life event. Relatively few estate plans are reviewed over time. Any life event should prompt you to review your will, trust, or other estate planning documents. So should a life event affecting one of your beneficiaries.

Will You Avoid These Estate Planning Mistakes? Too many wealthy households commit these common blunders. Provided by Michael Sieler. Centris’ financial planning representative. Mike Sieler can be reached at (402) 697-6726 or mike.sieler@curnesgroup.com. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly, but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid. Doing it all yourself. While you could write your own will or create a will or trust from a template, it can be risky to do so. Sometimes 8

InTouch / Spring 2016

Appointing a co-trustee. Trust administration is not for everyone. Some people lack the interest, the time, or the understanding it requires, and others balk at the responsibility and potential liability involved. A cotrustee also introduces the potential for conflict. Being too vague with your heirs about your estate plan. While you may not want to explicitly reveal who will get what prior to your passing, your heirs should have an understanding of the purpose and intentions at the heart of your estate planning. If you want to distribute more of your wealth to one child than another, write a letter to be presented after your death that explains your reasoning. Make a list of which heirs will receive particular collectibles or heirlooms. If your family has some issues, this may go a long way toward reducing squabbles and the possibility of legal costs eating up some of this or that heir’s inheritance. Failing

to

consider

what

will


happen if you and your partner are unmarried. The “marriage penalty” affecting joint filers aside, married couples receive distinct federal tax breaks in this country – estate tax breaks among them. This year, the lifetime gift and estate tax exclusion amount is $5.45 million for an individual, but $10.9 million for a married couple.1,2 If you live together and you are not married, it is worth considering how your unmarried status might affect your estate planning with regard to federal and state taxes. As Forbes mentioned last year, federal and state taxes claimed more than more than $15 million of the $35 million estate of Oscar-winning actor Phillip Seymour Hoffman. He left 100% of his estate to his longtime partner, and since they had never married, she could not qualify for the marriage exemption on inherited assets. While the individual lifetime gift and estate tax exclusion protected a relatively small portion of Hoffman’s estate from death taxes, the much larger remainder was taxed at rates of up to 40% rather than being passed tax-free. Hoffman also lived in New York, a state which levies a 16% estate tax for non-spouses once estates exceed $1 million.1 Leaving a trust unfunded (or underfunded). Through a simple, one-sentence title change, a married couple can fund a revocable trust with their primary residence. As an example, if a couple retitles their home from “Heather and Michael Smith, Joint Tenants with Rights of Survivorship” to “Heather and Michael Smith, Trustees of the Smith Revocable Trust dated (month)(day), (year)”. They are free to retitle myriad other assets in the trust’s name. 1

Ignoring a caregiver with ulterior motives. Very few people consider this possibility when creating a will or trust, but it does happen. A caregiver harboring a hidden agenda may exploit a loved one to the point where he or she revises estate planning documents for the caregiver’s financial benefit. The best estate plans are clear in their language, clear in their intentions, and updated as life events demand. They are overseen through the years with care and scrutiny, reflecting the magnitude of the transfer of significant wealth. This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment. Securities and advisory services offered thru Cetera Advisor Networks LLC, member FINRA/SIPC. Centris Federal Credit Union and Cetera Advisor Networks are not affiliated. - Not insured by any federal government agency - May lose value - No bank or credit union guarantee - Not NCUSIF Insured. Citations: 1 - raymondjames.com/pointofview/seven_estate_ planning_mistakes_to_avoid [10/16/15] 2 - fool.com/retirement/general/2015/12/11/estateplanning-in-2016-heres-what-you-need-to-kno. aspx [12/11/15]

Not a Deposit

Not Insured By Any Federal Government Agency

May Lose Value

No Bank or Credit Union Guarantee Not NCUA Insured

www.centrisfcu.org

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Get to Know: OJ Spooner OJ Spooner has been working in the Omaha area for 33 years and the past eight years as the Vice President, Business Relationship Manager at Centris. He specializes in commercial real estate and believes in the credit union difference – reinvesting profits back into the communities served. He trusts that Centris can meet the financial needs of the general business community. Centris’ Commercial department is proud to support our members with business and real estate ownership goals through flexible financing, fast decisions and the products and services to meet your needs. To schedule an appointment, please call OJ directly at (402) 758-6502 or the Commercial department at (402) 334-7000.

Which Card is Right for You? Your credit card shouldn’t come from anyone else. We’ve proven to be your trusted financial partner in your lifefrom your loan needs to your checking account. Why look elsewhere for a credit card? Our Visa® card options are sure to meet your credit needs.

Pick the card that works best for you! Centris Visa® Credit Card • You want a lower interest rate card • You typically carry a balance and make minimum payments each month Centris Visa® Rewards Credit Card • You want to earn points on every purchase to redeem rewards • You typically pay off 75 to 100 percent of your balance each month All credit cards contain EMV chip technology for enhanced security. Keep your banking local and convenient with a Centris Visa® credit card.

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InTouch / Spring 2016


Keep Cool at the Free Centris Hydrant Parties This Summer! We are proud to once again partner with the Omaha Parks and Recreation Department to sponsor the 2016 hydrant parties. Every Monday, Wednesday and Friday from June 13 through August 5, area hydrants will be opened up for some fun in the sun. In addition, we are also a partner for hydrant parties in Council Bluffs. Every Tuesday and Thursday beginning June 9 through August 11 at the specified locations. To get your schedule of the upcoming hydrant parties, be sure to go to our website at: https://www.centrisfcu.org/whats-new/. Please note all schedules are subject to change and may be cancelled due to inclement weather. Be sure to check the Centris Facebook page for the most current schedule.

www.centrisfcu.org

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For the seventh year in a row members like you have voted Centris as the Best Credit Union in the Omaha-metro area! We are also proud to again be voted first place for Best Auto Financing!

Thank You for Voting us #1

Centrisintouchnewsletterspring2016  

Centris Federal Credit Union InTouch Newsletter Spring 2016

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